Instal credit builder accounts report $1,000 or more of installment credit to the 3 major credit bureaus and build your savings while you build credit.
Open your Instal account in just minutes.
No hard credit pull on your credit profile. Accounts are FDIC insured.
Pick your plan.
Pick your plan: Choose to build credit over 24, 36, or 48 months with a payment that fits your budget.
Make on-time monthly payments to build positive credit history.
Free FICO score monthly to track your progress.
Unlock savings when account is paid off or closed.
Cancel anytime without penalty or keep open to build length of history.
Instal accounts can positively impact factors that determine 90% of your FICO Score
What is installment credit?
Installment credit is typically a loan with an amount, interest rate, term (the length of the loan in months or years), and a set monthly payment.Learn more
Installment credit has an amount, interest rate, term (the length of the loan in months or years), and a fixed monthly payment. The monthly payment is split between interest and repayment of the money borrowed (principal). The payment split includes more interest at the beginning of the loan and more principal near the end. A car loan or home mortgage are common types of installment loans.Go Back
How will this help me?
Instal accounts build installment credit on your profile and demonstrate to lenders your ability to consistently make on-time fixed monthly payments over the term of a loan.Learn more
An Instal account can help you build installment credit and demonstrate to lenders your ability to consistently make on-time payments over the term of a loan. Install accounts let you pick the monthly payment, credit amount, and account term that’s right for you. On-time payments, the amount of credit, and the length of credit history are 3 key components that impact 80% of your FICO Score.Go Back
Works great with other products.
Your credit mix matters – having a diverse blend of credit accounts builds your profile. Adding a Revolv account to Instal can enhance your credit mix.Learn more
Your credit mix matters – having a diverse blend of credit accounts builds your profile. Adding a Revolv account to Instal can enhance your credit mix. Credit mix is the number and type of accounts (installment or revolving) on your credit profile and impacts 10% of your FICO Score. You should have a mix of revolving and installment accounts to optimize your profile.Go Back
- Save up to $1,010 in just 48 months
- $1,010 installment account reported
- Build 48 months of credit history
- Save up to $1,100 in just 36 months
- $1,100 installment account reported
Build 36 months of credit history
- Save up to $1,000 in just 24 months
- $1,000 installment account reported
- Build 24 months of credit history
Your credit profile and your associated credit score are uniquely you. How quickly your credit profile improves and the impact on the score will vary, but the best thing you can do is make on-time payments and keep building your profile.
Occasionally, adding a new line of credit to your credit profile will cause a slight temporary dip in your credit score because it may reduce the overall age of your credit history. In this case, it’s typical for your credit score to quickly rebound and increase with on-time payment history for the CreditStrong account loan.
You may cancel or close your CreditStrong account at any time with no prepayment or early termination fee. Please note that any payments received more than 30 days late will be reported as ‘late’ to the credit bureaus.
When canceling or closing your account you should be aware that payment history is the most important factor for your FICO credit score and by closing your account early you will reduce the number of payments reported to the credit bureaus, potentially reducing the positive impact of the CreditStrong Account loan on your credit score.